GDPR’s rocketing fines of £69m could put you out of business

Reported via a study by NCC Group’s Security Consultants, ICO fines under the GDPR will soar from 2016’s price of £880,500 to £69m.

That’s 79 times higher than the figures paid by non-compliant companies last year. Many UK businesses operating within the EU will not survive when faced with these penalties.

Failing to comply with the General Data Protection Regulation (GDPR) is a breach under the Data Protection Act 1998, with an incident costing you up to €20m or 4% of your global turnover. That’s an incredible chunk of budget which has not been forecast.

Big changes will be invoked in the B2C and B2B arena once the calendar flicks to 28th May, 2018. You will need to evidence your clean opt-in methods, and you will justify which records you direct market to (and why).